All Property Week articles in 27 February 2009
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APC Advice - Week 32: Critical analysis (part 1 - choosing a subject)
Jon Lever advises you on choosing your topic for the critical analysis, while Ben Elder looks at the competency on engineering
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Consultancy launches review of local government property
A public sector consultancy is conducting a review of local government property to help councils improve efficiency across their estates.
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Former Redrow boss bids to shake-up the board
The founder and former CEO of housebuilder Redrow, Steve Morgan, has increased his stake in the company to almost 30% and is pushing for a shake-up of the board.
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Ex-Lehman Brothers property director joins Starwood Capital Group
Former Lehman Brothers real estate private equity director John McCarthy has joined US group investment company Starwood Capital Group as its global head of asset management.
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SA property will continue to fall, say survey
Fifty percent of South Africans feel that the property market will continue its downward trend until the end of this year, according to the results of an online survey released by mortgage originators ooba.
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Buyers threaten to quit Chennai project
A significant section of buyers of an up-market residential project near Chennai being promoted by DLF have locked horns with the builder, saying cut prices or face exit notices.
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LA landlord doubles quarterly losses
Los Angeles office landlord Maguire Properties Inc. more than doubled its loss in the fourth quarter of 2008 as it grappled with a softening commercial real estate market and wrote down the value of an Orange County building it hopes to sell.
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'Bad Bank' plan details emerge
The Obama administration is considering creating multiple investment funds to purchase the bad loans and other distressed assets that lie at the heart of the financial crisis, according to people familiar with the matter.
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Virgin closes US Megastores
Virgin Megastores is set to close its Times Square flagship and two other locations this spring, and is 'very likely' to close its remaining stores by the summer, chief executive Simon Wright has said.
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Aussie listed trusts in covenant breach danger
There is growing uncertainty over the future of some listed property trusts this week, with a number due to report now being suspended from official quotation on the Australian Securities Exchange.
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Default risk climbs for Chinese developers
A number of leading mainland developers may be at risk of defaulting on their debt this year because of liquidity problems amid the deteriorating economy and property market, according to Standard & Poor's.
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Japanese property trusts face crisis
Pacific Holdings, which manages real estate investment trusts is racing to negotiate a Y46bn ($470m) investment from more than 10 Chinese funds, originally scheduled for last November but yet to be delivered. The company admitted in a press release last month that the injection 'is critical to the continuation of ...
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Poland reaffirms eurozone ambition
Poland renewed its commitment to bid for early accession into the eurozone yesterday amid signs the financial crisis has prompted European Union leaders to consider shortening the entry process.
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Freddie Mac chief quits
David Moffett, chief executive of Freddie Mac, has resigned just six months after taking the helm of the US mortgage financier as it was put under government supervision.
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Contractors struggle as Dubai developers fail to pay
Contractors working in Dubai are facing severe cash flow problems as state-linked developers, hampered by blocked credit markets, fleeing investors and a tumbling local property market, fail to meet their financial commitments.
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OnlineTim Wheeler to leave Brixton
Brixton's CEO Tim Wheeler is to leave and will be replaced by the company's investment director Peter Dawson.
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Stocks pummelled on finance worries
Stock markets around the world fell to their lowest levels of the economic crisis yesterday as a spate of dividend cuts and faltering financial companies shook investor confidence.
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Persimmon re-negotiates debt
Persimmon, one of Britain’s biggest house builders, has re-negotiated the terms of its existing debt and acquired new banking facilities as the sector struggles to cope with the falling property market.
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Brixton leads rout of the property shares
Brixton becoming the property sector’s whipping boy yesterday, falling 10.25p, or 26%, to 28.5p. The collapse came amid a general rout of property shares as investors fled, fearing that a series of cash calls are imminent.
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Rogers cuts jobs as work stalls
Rogers Stirk Harbour & Partners announced cuts yesterday totalling about a quarter of its London staff. After the shedding of nearly 300 jobs from Foster & Partners, the other architectural powerhouse, last month, the 35 job losses highlight the devastating effects of the credit crisis on architecture.
